Thread Started by #edigaprasad

Dear Friends,
I am working with a manufacturing company as a sr. manager marketing & sales. I have been with this company from last 9 years. Now i am leaving this company and going to abroad. kindly help regarding the supper annuation amount.
As per the company policy this is eligible to the employees who have completed 5 years in this organisation and after 10 years completion for pention eligibility. Company is showing around 10% of basic as superannuation eligible after 5 years.
As i am leaving this company after 9 years can you explain me weather i will get any supperannuation amount? Can i claim any amount from this?
with regards,
Prasad.
3rd October 2008 From India , Uran
Basic rule of SUPERANNUATION (SA) is that company deduct amount form you salary. You are entitle for SA only if you commplete the said time i.e. in you case it is 5 year which you have completed. Thus you are entitle for the SA.
Now it is upto you that how to avail it.
A) you can withday 70% of total amount which is accumulated and on 30% you can get pension.
B) you can get pension on total accumulated amount.

This rule may defer with respect to you company management. In one of my company i was entitle for SA after 1 year. If i leave the company before this period i shall not get a single penny after that you can opt for A or B.

In an another company minimum serving period was 5 years and I left the company in two years and i was not entitle for SA.

Regards.


19th March 2009 From India , Ahmadabad
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